Saudi cement producers see 1Q rise in net profit

Saudi cement producers see 1Q rise in net profit
Published: 12 June 2012


Two leading Saudi Arabian cement producers have reported solid gains in the first quarter of 2012 driven by higher sales volumes as a result of rising local demand.

Saudi Cement Company (SCC) said that its net profit for the three months through March 2012 surged 54.4% YoY to SAR325.6m (US$86.8m) from SAR210.8m a year earlier.

Meanwhile, Eastern Province Cement Company registered a SAR104m (US$27.7m) net profit for the first quarter of 2012, an increase from the SAR83m recorded a year ago. This represents a YoY advance of 25 per cent.